Greetings Earthlings (& Potential Space Invaders! 👽)
How are we doing? Another week in the books in the world of crypto, and what a week indeed. Is the bottom in? Has the bear returned to it’s cave to hibernate? Or is this just a head-fake rally until a retouching of the bottom? The truth is no one knows but what we do know is by keeping up with all the news and trends in web3 you can position yourself to navigate these tricky times more easily.
· The Miami Heat will remove FTX’s name from their stadium. (RIP)
· DYDX has a massive unlock on February 2nd — 105% of the circulating supply will be distributed to investors and team members. Keep your eyes posted.
· Samsung-backed Bitcoin ETF will launch on the Hong Kong stock market.
· DCG holdings — API3, HBAR, ZEC, FLOW, MANA — could be heavily impacted if DCG is forced to liquidate its venture assets to raise cash due to Genesis owing creditors $3b.
· Aptos-based multisig wallet Msafe, closed a $5M funding round.
· Al Tokens: FET VITD, NMR, OCEAN, CTXC, PHB. Rumors of Microsoft investing $10bn in openAl, paired with the huge chatGPT popularity, draws a callback to the late 2021 metaverse bull run. Fade the news or still some legs left to the pop?
· Binance.US Receives Initial Approval to Buy Voyager’s Assets For $1B.
· Crypto firms received $21B in funding last year.
Mastercard launches web3-focused artist incubator with Polygon
The 10 Defining Market Events of 2022
Kaiko research compiled a list of their key insights from 2022. Notably, it highlights the growth of market share on the Binance Exchange. Also, Uniswap demonstrates a growth in the usage and confidence in DEXs compared to their more centralized counterparts. Check out the link for some gigabrain level visualizations and insights.
10 predictions for crypto in 2023
Cointelegraph offered some interesting predictions for crypto in the year ahead. They anticipate 2023 to mark a departure from some of the industry dogma. For example, many projects will accept that they need to accept outside funding to bring projects mainstream. It’s a kind of paradox: a fully decentralized protocol can’t afford to have a marketing budget, and hire a staff, or have anything thing remotely ‘gatekeepery.’ In addition, web3 will begin to perfect their community engagement craft. It’s not enough to have a discord channel, there needs to be some inherent value add from an interpersonal standpoint.
Optimism Activity Hits New Highs As Layer 2s Close In On Ethereum
Lido Rides Liquid Staking Wave to Become Largest DeFi Protocol
Lido finance recently surpassed Maker as general interest in staking rises. Lots of people are trying to take advantage of Ethereum’s migration to PoS. In addition, Lido’s native token (LDO) has risen 40% around the same time. Liquid staking continues to endure as a straightforward way to leverage your crypto assets.
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Originally published at https://velvet.capital.